Chit fund scam: Court rejects bail plea of suspended BJD MLA

A local court on Monday rejected the bail plea of suspended BJD MLA Pravat Tripathy, arrested by CBI on charge of having link with Artha Tatwa Group CMD Pradip Sethy an alleged key player in the multi-crore chit fund scam in Odisha.

District and Sessions Judge, Khurda, D P Choudhury refused bail for Tripathy who represents Banki segment in the assembly.

Tripathy's bail petition on Novemver 13 was rejected by the Chief Judicial Magistrate's Court, the designated court to undertake trial of CBI cases.
The court had completed hearing on Tripathy's bail plea on December 2 and kept its verdict reserved till Monday.

Though Tripathy's counsel had, during the December 2 hearing, pleaded bail on health grounds, the CBI counsel had argued against it claiming that the MLA's release from jail could led to tampering with evidence.

Tripathy was arrested on September 30 for his alleged links with the AT Group and has been charged with having illegal monetary transactions with the AT Group and criminal conspiracy.